According to Italian Minister of Ecological Transition Roberto Cingolani, the EC could allow temporary payments for supplies in the currency demanded by Russia until the legal consequences become clear
Italian Minister of Ecological Transition Roberto Cingolani expressed the country's readiness to temporarily pay for Russian gas in rubles. He told Politico about this.
The minister requires the European Commission to allow European energy companies to settle accounts with Moscow in Russian currency.
“I think it would be good for companies for at least a few months, they continued to pay in rubles while we sort out the legal framework, — he said.
The EC needs to confirm that companies can still pay for supplies in Russian currency, as required by Moscow, Chingolani added.
It could take months to understand the legal implications, he said, which would put energy companies in a difficult position: they can't risk paying and then being accused of violating sanctions, but they can't not pay either.
On May 2, EU energy ministers are to hold talks on gas in Brussels.
Read on RBC Pro Pro What mistakes companies make when working with job portals Instructions Pro What cognitive distortions prevent us from working with money Applying Deming's Principles to Sales Instructions Pro When is the best time to go on vacation so you don't lose money Instructions Pro x The Economist The Fed made a historic mistake. Will this lead to a global recession?Earlier on Monday, French Minister of Ecological Transition Barbara Pompili said that the EU countries are in solidarity with paying Russia for gas in euros or dollars so as not to violate contracts.
At the end of March, Russia transferred payments for gas supplies from unfriendly states in rubles. From April 1, companies from these countries must open two accounts with Gazprombank— currency and ruble. The fee will first go to the foreign currency account, after which the bank will sell the currency on the stock exchange and credit the rubles to the second account. Payment will be considered completed only from the moment the funds are credited to the ruble account.
At the end of April, the European Commission recognized that the scheme for paying for Russian gas in rubles contradicts the EU sanctions against Moscow. The countries were offered several payment options, in particular, the states can consider only the transfer of currency to Gazprombank as fulfillment of obligations.
Materials for the article Authors Tags Subscribe to Telegram